Could You Be A Financial Role Model?

October 2, 2018

When we were younger, I’m sure that most of us had someone we could look up to. Whether it was a close member of family or a teacher or even someone famous that we would often see on the TV, these people would instill their values and good knowledge onto us, and we could then learn from their examples. These role models come in all walks of life and can guide us in various areas. One area of life which we often need a role model in, especially as teens and young adults, is finances and money. We don’t usually acquire money skills naturally, so we need people who can teach us and show us the best path toward financial freedom. Unfortunately, this doesn’t happen often and so many millennials later wish they had someone to show them the way.

Do you think that you could be a good financial role model to some of your younger peers? If so, these steps can help you on your way to becoming the kind of financial role model that you would have wanted to learn from.

Find Your Own Role Models

Even role models need role models! So, it’s worth thinking about who you look up to and who you would always turn to for help and advice with finances. Remember that people have opinions and opinions are not to always trust or follow. It’s important to dig deeper and look for credible information. Whether it is for your personal finances or if you are an entrepreneur, your business money, it is crucial get access to people who can teach from experience and not just from theory. If you run your own business, consultants such as Kirk Chewning or a similarly financial-savvy expert who can help guide your business may be useful. I’m glad you came to this blog. My goal is to give you reliable information based on my experiences in the financial industry. Thankfully, I have been able to create financial stability in my own life and I believe it is important to share with you all the principles that have worked for my family.

Work On Your Debts

It’s also advisable to work towards clearing any debts that you may have. If your own finances are in quite a poor state, then you can’t expect people to look up to you and come to you for advice. So, it’s always best to try to work at improving your own situation before you start helping others and offering them advice.

Be Independent

If you still rely on your parents or other family members for financial support, then you can’t realistically expect people to look up to you as a role model. I’ve read articles in the past that recommend staying at home as long as you can to benefit as much as you can of the free accommodations. I understand that millennials have a tough time with debt and jobs. But I also believe in trying hard to be self sufficient, especially after the college years. So, it’s necessary to try to gain your independence before you do try to cement your status as a role model. Start paying off all your bills on your own and stop expecting the world to help you. In the same train of thought, remember that you are not entitled to a handout.

Share Your Knowledge

Finally, you need to start sharing your financial knowledge and experience with those around you. Start small. If you paid off a credit card, why not share with a friend who is struggling how you’ve accomplished it. This does not have to be public or on Facebook. It’s really your way of helping and giving back.

Ok, you are a millennial and you want to have your own blog too. Well, if you believe in it, go for it. By setting up your very own blog,you can publish articles and reports that could end up being shared and viewed by thousands of people around the world. Your objective should be to help and eventually, you may be considered a role model. It’s start with you. It is your responsibility to be your own role model.

When you look at your finances or your bank account, aim to be proud. Start small and build discipline in your spending and your savings.

We certainly have tried to be good role models for our kids. We let them in, at age appropriate times, on when we paid the house off, the fact we were debt free, that we saved aggressively, how much I earned and why I decided to retire early. All of them are good with their money and have good careers and are very good bargain hunters!